People hired and laid off a couple months later - Anonymous employee Banked Employee Review

1.0
Feb 8, 2024
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Cool work, great people, fully remote.

Cons

Company stability is not good. People were hired and let go a few months later. There is absolutely no excuse for that except poor leadership decisions. Choose another company unless you want to potentially be back on the job hunt before you can even settle in and have to explain that on your CV

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Banked Response
2y
Thank you for taking the time to share feedback. While we strive to handle such situations with empathy and transparency, we also understand that there is always room for improvement. Please know that decisions involving layoffs are never taken lightly, and they are made with careful consideration. It's important to us that our employees feel supported and valued, both during times of transition and throughout their entire journey with us. We are committed to fostering a positive and inclusive workplace culture where every individual's voice is heard, respected, and valued. We deeply appreciate the contributions of our former teammates and are motivated to continue to progress the important work already underway. If you wish to discuss your experience in more detail, please do not hesitate to reach out to our People Team. Thank you again for sharing your perspective, and we wish you the very best in your future endeavors.

Explore other reviews about Banked

1.0
May 31, 2025
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Nothing. Worst company ever. You may get some swag.

Cons

They will lay you off at the blink of an eye. Do not trust these people.

4
2.0
Feb 6, 2024
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Good product, nice culture, and friendly hard working people. Great place to work but for the gross financial mismanagement that resulted in a lay off of 30% of the workforce in January 2024. It's a shame that so many people lost their jobs either due to the CFO and cofounders incompetence, or questionable morals. Not sure the company will survive unless they magically get more funding.

Cons

Not a stable place whatsoever. Layoffs of varying scales seem to be the norm.

9
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Banked Response
2y
Thank you for taking the time to share your thoughts and concerns. It is important for us to hear and we appreciate all feedback, as it helps us reflect and make improvements where needed. We understand that the impact of layoffs can be incredibly challenging. While we cannot change the past, we want to assure you that we take feedback like yours seriously. We are continuously working to refine our processes and provide support to our employees during periods of transition. As a company, we strive to navigate such circumstances with empathy and fairness, while also ensuring the long-term sustainability and success of our business. The difficult changes that we have made are necessary to align our organization to match our strategic priorities, and those of our clients and partners. We are thankful for the many contributions of our former teammates and energized to push forward and continue to build on the exciting opportunities ahead for Banked. If you wish to discuss your experience in more detail, please do not hesitate to reach out to our People Team. Thank you again for sharing your thoughts, and we wish you the very best in your future endeavors.
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